What is bitcoin & how to use it?

How to Mine, Buy, and Use It What Is Bitcoin? Bitcoin (BTC) is a cryptocurrency, a virtual currency designed to act as money and a form of payment outside the control of any one person, group, or entity, thus removing the need for third-party involvement in financial transactions.

What is the unit of account of bitcoin?

The unit of account of the bitcoin system is the bitcoin. Currency codes for representing bitcoin are BTC [a] and XBT. [b] : 2 Its Unicode character is ₿. One bitcoin is divisible to eight decimal places.

What is Bitcoin (BTC)?

The native cryptocurrency of the Bitcoin network, called bitcoin (BTC) Bitcoin runs on a peer-to-peer network where users — typically individuals or entities who want to exchange bitcoin with others on the network — do not require the help of intermediaries to execute and validate transactions.

What are the characteristics of bitcoin?

Bitcoin has the following traits: It is limited to 21 million. It is divisible up to eight decimal points. The smallest unit, a satoshi, is equivalent to 0.00000001 bitcoin. It is stored in digital wallets, making it easily transportable. It is not physical, so it cannot be destroyed.